If you decide to sell the house you bought in Turkey, you will have to pay what is known as "Capital Gains Tax" .
Luckily, this tax is very low in Turkey compared to other countries.
If you decide to sell your property earlier than five years from the date of purchase , you must pay capital gains tax, the amount of which depends on the profit you make from the sale of your property.
This tax is calculated by deducting the value of the property at the time of purchase from its current value at the time of sale. The profit you have made from the sale of your property will be taxed.
This tax is calculated at a different rate depending on the profits made:
Profits of less than 6,000 lira are not taxed
Profits between 6,000 and 7,000 lira will have a 15% tax
Profits between 7,000 and 18,000 lira will have a 25% tax
Profits between 18,000 and 40,000 lira will have a 27% tax
Profits of more than 40,000 lira will be taxed 35%
The good news is that real estate investors who make money from buying and selling property, will be subjected to income tax only .
If you keep your property for more than 5 years, you do not have to pay profit tax.
Luckily, this tax is very low in Turkey compared to other countries.
If you decide to sell your property earlier than five years from the date of purchase , you must pay capital gains tax, the amount of which depends on the profit you make from the sale of your property.
This tax is calculated by deducting the value of the property at the time of purchase from its current value at the time of sale. The profit you have made from the sale of your property will be taxed.
This tax is calculated at a different rate depending on the profits made:
Profits of less than 6,000 lira are not taxed
Profits between 6,000 and 7,000 lira will have a 15% tax
Profits between 7,000 and 18,000 lira will have a 25% tax
Profits between 18,000 and 40,000 lira will have a 27% tax
Profits of more than 40,000 lira will be taxed 35%
The good news is that real estate investors who make money from buying and selling property, will be subjected to income tax only .
If you keep your property for more than 5 years, you do not have to pay profit tax.